Jim, Rob and Emily Are Partners in a Limited Liability

question 59

Multiple Choice

Jim, Rob and Emily are partners in a limited liability partnership where they practise law. Jim's initial contribution was $30,000, Rob's was $20,000 and Emily's was $10,000. The partners agree that profits and losses will be shared in proportion to their capital contributions. Jim is sued $60,000 for negligence. How much can he collect from Rob?

• A) $60,000
• B) $30,000
• C) $20,000
• D) $10,000
• E) Nothing

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Definitions:

Construct Validity

The extent to which a test measures the theoretical construct or concept it is intended to measure.

Content Validity

A type of validity that examines how well a test samples a universe of items.

Reliability

The extent to which a measurement instrument yields reliable and uniform outcomes across various occasions.

Validity

The degree to which a test or measurement accurately reflects the concept or construct it is intended to assess.